Housing Snapshot
Mortgage interest rates nudged up slightly last week, as the strength of the economy remained in doubt despite encouraging developments from the war in Iraq. Retail sales increased 2.1% in March, more than expected, and the University of Michigan anticipated stronger consumer confidence for April. This good news suggested the economy is not sliding into a double-dip recession, as some had begun to fear, but how long growth will continue to mope along remains an unsettled question. [ MORE ]
Mortgage Interest Rates
30-Year Fixed-Rate: 5.85%
15-Year Fixed-Rate: 5.17%
1-Year ARM: 3.8%
Housing Starts - Feb. 2003*
Total: 1.62 million
Single-Family Starts: 1.3 million
Multifamily Starts: 327,000
New Home Sales Feb. 2003*
854,000
Existing Home Sales Feb. 2003*
5.84 million
* Seasonally adjusted annual rate